Kim, Colorado Property Taxes
The median property tax rate in Kim, CO is 0.40%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $110,212 in Kim, the typical annual property tax bill amounts to $441, far below the national median of $2,690. Property taxes in Kim are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Kim's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kim or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kim, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$441
Ownwell’s KIM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in KIM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KIM to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kim, Colorado
Property taxes in KIM, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in KIM is 0.40%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within KIM set these rates annually, and they can vary significantly across different neighborhoods. Each year, KIM estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares KIM's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81049 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with KIM provides valuable insights into the varying tax landscape across Las Animas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kim Tax Rate
0.40%
Average Las Animas County Tax Rate
0.33%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kim, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81049 | 0.21% | 0.30% | 0.40% | 0.73% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Kim, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in KIM, Colorado. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Las Animas County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In KIM, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in KIM is $110,212, with the 25th percentile tax bill at $226 and the 75th percentile at $830. The highest and lowest median tax bills are both $441 in the 81049 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in KIM helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kim Assessed Value
$110,212
Average Las Animas County Assessed Value
$103,330
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kim, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81049 | $37,483 | $60,735 | $110,212 | $148,554 | $234,866 |
Source: Ownwell
Property Tax Bills Across Kim, Colorado
In KIM, located in Las Animas County, CO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in KIM is $110,212, and the property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including the property's location, market conditions, and any applicable exemptions or deductions. For homeowners in KIM, the 25th percentile tax bill is around $226, while those in the 75th percentile pay approximately $830. The 90th percentile tax bill can reach up to $1,229. These figures indicate a range of tax burdens depending on property values and applicable rates. Comparing this to the national median property tax rate of 0.99%, KIM's tax bills can be seen as relatively moderate. Understanding these factors helps homeowners anticipate their annual expenses and manage their finances more effectively.
Average Kim Tax Bill
$441
Average Las Animas County Tax Bill
$300
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Kim, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81049 | $106 | $226 | $441 | $830 | $1,229 |
Source: Ownwell